ADNOC and JBIC sign $3 billion green financing agreement
Abu Dhabi National Oil Company (ADNOC) PJSC (ADNOC) has signed a general agreement with the Japan Bank for International Cooperation (JBIC) for a $3 billion (Dh11 billion) green financing facility. It follows the signing of a Heads of Agreement (HOA) between ADNOC and JBIC in January this year and builds on their long-standing successful partnership. […]
Abu Dhabi SWFs invested $26.1b in fresh capital in H1 2024
Abu Dhabi-based sovereign wealth funds (SWFs) – Abu Dhabi Developmental Holding Company (ADQ), Abu Dhabi Investment Authority (ADIA), and Mubadala – deployed a total of $26.1 billion in fresh capital in the first half of 2024, according to latest data from consultancy GlobalSWF. ADQ accounted for $9.2 billion, ADIA for $8.7 billion, and Mubadala deployed […]
UAE leaders congratulate US President on Independence Day
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Joe Biden of the United States of America on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin […]
Zayed International Airport wows Elon Musk
Zayed International Airport in Abu Dhabi received a thumbs up from tech entrepreneur Elon Musk. Musk is known for his innovative ventures like SpaceX. Musk took to social media platform X, also owned by him, to urge the US to learn from the UAE’s advancements in airport technology. The inspiration? A video posted by Emirati […]
UAE business activity and demand strong as economy continues to grow in June, S&P PMI report
UAE businesses experienced a “marked increase” in business activity and a “steep rise” in new work in June, with most non-oil businesses optimistic about the future, according to the latest S&P Purchasing Managers Index (PMI). “Companies are still enjoying strong customer demand and robust sales pipelines, which are sustaining output expectations and driving purchasing activity,” […]
Abu Dhabi ranked safest city globally for eight consecutive years
Abu Dhabi has been named the world’s safest city for the eighth consecutive year, according to Numbeo’s 2024 Mid-Year Crime Index released on Tuesday. The Numbeo Crime Index, updated semiannually, considers survey responses regarding perceptions of crime, personal safety during daylight and nighttime, concerns about specific crimes, and the extent of property and violent crimes. […]
Space X to launch UAE’s Yahsat satellites in 2027 and 2028
The UAE’s largest satellite provider, the Al Yah Satellite Communications Company (Yahsat) has reached an agreement with the American Space X to launch its two geostationary satellites Al Yah 4 (“AY4”) and Al Yah 5 (“AY5”). The deal will see the state-of-the-art communications satellites launched onboard the Space X Falcon 9 rocket in the year […]
UAE ranks ninth among world’s most popular tourist destinations
The UAE has ranked ninth globally among the most popular tourist destinations over the past 12 months, according to the latest “Travel Trends 2024” report issued by the Mastercard Institute for Economics. The report highlights Dubai’s strong performance, ranking fourth globally among destinations experiencing significant growth in travel demand during the current summer season (June […]
With the opening of its Cape Town office, TRENDS outlines South Africa research tour
TRENDS Research and Advisory held a preparatory coordination meeting to discuss the final arrangements for the scientific research tour that it will undertake in South Africa from July 15 to 20. The tour will include the official launch of the Cape Town office, a global round table, research dialogues, academic partnerships, and celebrating the […]
Ahmed bin Saeed issues directive updating Dubai Demand Side Management Strategy 2050
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, has issued Directive No. 1 of 2024 to update the Dubai Demand Side Management Strategy 2050 (DSM Strategy 2050). The move is in line with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, […]